FINANCIAL_SERVICESAPPROVED

Wilson County Board of Commissioners Meeting Agenda April 3, 2023

Wilson County Approves Incentive Package for Believer Meats

Five (5) year economic incentive not exceeding a total of $2,500,000; County share not exceeding $1,250,000 ($250,000 annually beginning 2024)Wilson CountyBELIEVER MEATSApril 3, 2023

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Description

The Wilson County Board of Commissioners approved a five-year economic development incentive agreement with Believer Meats, under which the County will provide up to $1,250,000 in payments tied to a $123,350,000 investment and job creation. Annual payments of $250,000 beginning in 2024 are limited by the company’s real and personal property taxes and subject to performance conditions.

Contract Details

Contract Amount

Five (5) year economic incentive not exceeding a total of $2,500,000; County share not exceeding $1,250,000 ($250,000 annually beginning 2024)

Vendor

BELIEVER MEATS

Agency

Wilson County, NC

Contract Type

FINANCIAL_SERVICES

Document Date

April 3, 2023

Contract Term

Five (5) years beginning with $250,000 in 2024

Renewal Date

2029-12-31

Renewal Info

Five-year incentive schedule with no stated renewal; payments stop once the $1,250,000 County cap is reached or if performance conditions are not met.